USDCAD on Thursday rose 0.12% to 1.37313. How it happened.

USDCAD Analysis

Performance after Thursday
Period	Pct	Chg	Momentum
Thursday	0.12%	16.2 Pips
Week to-date	-0.03%	-4.6 Pips
August	-0.56%	-77 Pips

Upcoming key events (London Time)

No major events for the day.

What happened lately

🇺🇸 U.S. Industrial Production (1-mth) in July decreased to -0.6% from 0.6% in June.
🇺🇸 U.S. Monthly Retail Trade (1-mth) in July rose to 1% from 0% in June. Source: Census Bureau
🇺🇸 In the week ending 10 August, U.S. Initial Unemployment Insurance Claims dropped to 227K compared to previous figure 234K (revised from 233K) Source: Department of Labor
🇺🇸 U.S. Retail Trade Control Group in July dropped to 0.3%, down from 0.9% in June. Source: Census Bureau
🇺🇸 U.S. CPI Inflation Rate (1-mth) increased to 0.2% in July from -0.1% in June. Source: Bureau of Labor Statistics
The U.S. CPI Inflation Rate excluding Food and Energy sectors increased to 0.2% in July from 0.1% in June. Source: Bureau of Labor Statistics
🇺🇸 U.S. CPI Inflation Rate excluding Food and Energy sectors (12-mth) in July dropped to 3.2%, down from 3.3% in June. Source: Bureau of Labor Statistics
🇺🇸 The U.S. CPI inflation rate for July dropped to 2.9% from the previous figure of 3% in June. Source: Bureau of Labor Statistics

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What can we expect from USDCAD today?

USDCAD on Thursday rose 0.12% to 1.37313. Price is below 9-Day EMA while Stochastic is rising.

Updated daily direction for USDCAD looks bullish as the pair ended higher after Thursday trading session.

Looking ahead for the day, immediate upside resistance level is R1 at 1.37499 with break above could target R2 at 1.37684 or figure level area. While towards the downside, we are looking at daily low of 1.36900 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.37385 may suggest continuation after recent positive movement.

For the week to-date, take note that USDCAD is mixed as compared to the prior week.

Key levels to watch out:

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